CFP Board Reinstates Fee-Only Search Function On Its Website

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:::whhhooooooosssssssssssssssss ::: is the sound of the CFP license being sucked down the drain. Ann, you picked a perfect example of why the CFPBOS should not be granting amnesty. The young man openly acknowledged that not all of his clients compensated him only by fees; irrespective of his employer. How do you look the other way at that?

I guess it will be only a matter of time til the board grants a pardon to the convicted planners and we will have all learned another lesson from the CFPBOS. Jimmy Breslin would have been proud of them.

Posted by Pat P | Wednesday, September 25 2013 at 2:36PM ET

So, I understand there were 8000 +/- CFP's who claimed to be fee-only prior to the CFP Board's action. How many are now identified as fee-only? How is the CFP Board going to inform the consumer that perhaps they really didn't choose a fee-only advisor like they thought they were doing in the first place?

Posted by Chip A | Wednesday, September 25 2013 at 3:01PM ET

I doubt there are only two other CFP's who have been through this situation since Alan Goldfarb's. What happens to them? This is a bad situation getting worse, if the board doesn't go after the wirehouse CFP's with the same vigor- then they should erase the last two or three years of letters public or private.

Posted by Andrew P | Wednesday, September 25 2013 at 3:26PM ET

Mr Bohn's self professed interpretation of the rules, and his distinction between "mainly" and "only" are black marks on the CFP and seriously damage the integrity of the commercial license.

Posted by Consumer A | Wednesday, September 25 2013 at 4:06PM ET

The "fee mainly" wirehouse brokers will skate without even a wrist slap.
That's just how the world works.
In fact, I wouldn't be surprised if they're cutting a backroom deal right now.